Bally Sports has reached a deal with Cleveland Guardians, Minnesota Twins, and Texas Rangers to continue airing their games in the 2024 season.
The new contracts, which will expire at the end of the 2024 season, will allow Diamond Sports Group — Bally’s parent company — to “profitably broadcast” Guardians, Twins, and Rangers games through the season “in accordance with the business plan contemplated by the Restructuring Support Agreement,” according to court documents.
Similar deals have already been reached with the NHL and NBA.
“We are pleased to have reached agreements with the Cleveland Guardians, Minnesota Twins and Texas Rangers that work for all parties and enable us to continue delivering high-quality, live game broadcasts on Bally Sports to dedicated fans through the 2024 season,” a Diamond Sports spokesperson told Cord Cutters News.
Details of the new contracts weren’t disclosed in the documents.
An earlier report from MLB Trade Rumors predicted that the Guardians and the Rangers each are expected to take a 15% cut. This would mean a sizeable revenue loss for both teams. Previously, Diamond threatened to drop the Guardians and the Rangers unless their contracts could be renegotiated for a lesser fee.
Last year, Cleveland reportedly made $55 million from its TV deal, Texas made $111 million, and Minnesota brought in $54 million.
Since the Twins’ contract had already expired, it was unclear what cuts the team could anticipate under a new deal.
Diamond Sports Group — Bally’s parent company — has been working to renegotiate a number of deals teams while facing an uncertain future. Earlier this month, Amazon invested in the company which will allow it to exit bankruptcy.
Going forward, Amazon will be the new home of Bally Sports streaming for direct-to-consumer packages.